Cost Accountant

alfanar Group; South Africa; On-site; ZAR 300 000 - 450 000; Full time

Job summary

A leading company in financial services is seeking a Cost Accountant to oversee cost expenditures and analyze financial reports. The ideal candidate will possess a Bachelor’s Degree in Accounting and Finance with 4-6 years of relevant experience. Responsibilities include coordinating with production teams for monthly cost closing, preparing financial analysis reports, and ensuring compliance with quality and safety standards. This role is crucial for contributing to the company's operational and development objectives.

Qualifications

• 4 to 6 years of experience in cost accounting.
• Experience with cost accounting systems and analysis.
• Ability to analyze variances and provide detailed reports.

Responsibilities

• Oversee cost expenditures and ensure timely processing of financial data.
• Coordinate with production for monthly closing and actual data adjustments.
• Prepare monthly financial reports and variance analysis.

Skills

Cost Accounting

Cost Analysis

Problem-Solving

HR Proficiency

Business Process Improvements

Education

Bachelor Degree in Accounting and Finance

Job description

Job Purpose

This position exists to oversee and analyze cost expenditures and purchases efficiently, in timely manner and quality standards as per the defined policies and procedures to achieve departmental operational plans and developments within wider scope.

Key Accountability Areas

Actual Costing:

• Monthly Coordination with production to finalize all actual activities & Closing orders
• Monthly Checking all actual data posted by production & make required adjustment if required.
• Monthly Processing period end closing & posting (WIP, Variances, Un-realizes cost, etc.)
• Monthly posting all costing entries & provisions.
• Monthly Checking & Analyzing for the result of period end closing.
• Monthly checking expenses & make adjustment if required
• Monthly Settlement for investment internal orders to AUC & Cost center
• Design and updating distribution cycle to allocate service & General cost center costs
• General Problem Solving For Costing Issues, Supervising, Supporting, etc.

Standard Costing:

• Preparing planned costing data with agreed plant activity
• Enter standard cost & standard plant activity in the system and calculate the rate.
• Maintain & Updating activities rate for production work centers
• Regularly Check & adjusting materials master.
• Regularly Check master data (BOM & Routing) & inform planning to make required adjustment.
• Material Costing run, to calculate planned cost.
• Maintain production orders overhead percentage.
• Upload overhead costs to production orders based on that maintained percentage.
• Regularly Analyzing cost for items & coordinating with planning for any correction
• Regularly Release the cost for related items.

Costing & Controlling Analysis:

• Analyze WIP & provide justification for major orders.
• Analyze Un-realized cost & provide justification for major orders
• Identify and analyzing production, purchasing, and inventory variances
• Controlling on actual time posted by comparing with routing & making proper reporting to management.
• Preparing master consumption report with proper adjustments
• Controlling on actual consumption & monitoring irregularities cost for material & reporting to management

Monthly Controlling ORM & Financial Reports:

• Monthly preparation of consumption & production masters.
• Monthly preparation of costing statement per product type.
• Prepares special costing reports,
• Monitoring actual vs. budget & standard costing reports & variance analysis
• Preparing best estimation costing reports

Role Accountability

HR Proficiency:

• Ability to obtain updated soft and technical skills related to the job
• To have a vision and a plan for the career path and how to achieve it.

Delivery:

• Perform the planned activities to meet the operational and development targets as per delivery schedules.
• Utilize resources effectively to achieve objectives within efficient cost and time.
• Provide a periodic report formatted by detailing the deviation and execution of planned tasks.

Problem-Solving:

• Solve any related problems arise and escalate any complex operational issues.

Quality:

• Ensure quality requirements to develop effective quality control and processes including specifications for products or processes or related activities.

Business Process Improvements:

• Coordinate well-defined written systems, policies, procedures, and seek automations opportunities as much as possible.

Compliance:

• Comply to related policy and procedures and work instructions.

Health, Safety, and Environment:

• Ensure compliance of relevant safety, quality, and environmental management procedures and controls within defined area of work activity to guarantee safety, legislative compliance, and delivery of high-quality products/services.

Academic Qualification

Bachelor Degree in Accounting and Finance

Work Experience

4 to 6 Years

Technical / Functional Competencies

• Cost Accounting
• Cost Accounting Best Practices
• Cost Accounting Systems
• Cost Analysis
• Industrial Cost Analysis